Candente Resource Corp.
TSX : DNT

Candente Resource Corp.

July 11, 2007 05:00 ET

Candente Resource Corp.: High Grade Silver in Veins and Gold in Vuggy Silica Found on Tres Marias Property, Southern Peru

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 11, 2007) - Candente Resource Corp. (TSX:DNT)(BVL:DNT)(WKN:GW4) ("Candente") is pleased to announce the acquisition of the Tres Marias silver and gold property in the Puno District of Southern Peru. Tres Marias hosts gold, silver and polymetallic mineralization in extensive alteration zones which appear to be typical of both low and high sulphidation systems. The property covers 9,400 hectares, which are entirely (100%) owned by Candente's Peruvian subsidiary, Cia. Minera Oro Candente S.A.

The main vein found to date, Pataquena, has been mapped on surface for a distance of 500 metres (m) and traced for 300 m to the south and is still open both to the North and South. The width of the vein ranges from 10 centimetres (cm) to 2 m as seen in the limited exposure to date. The vein was exploited during Spanish Colonial times in the late 1800's. Recently opened underground workings extend for approximately 150 m horizontally along the main vein and also along crosscutting and semi parallel veins. The vertical extent of the workings is approximately 75 m along several levels. The workings only follow the vein above the valley floor so significant potential exists below these tunnels as well as along strike. Silver values from surface sampling and historic mine dump piles have grades of up to 68.08 ounces per ton (oz/T) (2,334 grams per tonne (g/t)). More detailed silver, lead and zinc grades can be seen in the table below:

The high sulphidation alteration zone extends along a ridge for one (1) km and includes lithologically and structurally controlled vuggy silica and hydrothermal breccias in various surface exposures. Anomalous gold values of up to 4.0 g/t were obtained from grab samples of the vuggy silica material.



GRABS FROM HISTORIC MINE DUMP PILES (SELECTED SAMPLES WITH NO TRUE WIDTH)

------------------------------------------------------
Width Ag oz/T Ag g/t % Pb % Zn
------------------------------------------------------
N/A 31.18 1069 greater than 10 1.88
------------------------------------------------------
N/A 38.20 1310 8.55 1.42
------------------------------------------------------
N/A 15.60 535 7.56 2.14
------------------------------------------------------
N/A 68.08 2334 0.27 1.19
------------------------------------------------------
N/A 67.99 2331 0.28 1.89
------------------------------------------------------
N/A 60.41 2071 3.63 1.70
------------------------------------------------------


CHIP SAMPLES FROM OUTCROP

------------------------------------------------------
Width (m) Ag oz/T Ag g/t % Pb % Zn
------------------------------------------------------
1.0 11.03 378 2.05 0.07
------------------------------------------------------
0.40 14.67 503 0.18 0.01
------------------------------------------------------
0.10 13.88 476 0.54 0.11
------------------------------------------------------
0.50 8.25 283 greater than 10 1.59
------------------------------------------------------
0.20 23.80 816 2.63 3.10
------------------------------------------------------


Candente initially acquired claims at Tres Marias covering 7,900 hectares and recently an additional 1,500 hectares in an auction (remate) following the simultaneous staking by Candente and several major companies including Newmont, Newcrest, Apex Silver and Southwestern Gold. The potential at Tres Marias was initially identified by Candente's exploration team lead by Ing. Fredy Huanqui, Robert Van Egmond, P. Geo., and Ing. Enrique Bernuy, however, Guillermo Bajonero, a Peruvian Prospector, will be paid a finder's fee of 30,000 shares for certain knowledge he brought to the Company in relation to this acquisition.

The Tres Marias property is located in the department of Puno in Southern Peru, 35 kilometres (km) southwest of the city of Puno and 75 km southwest of the nearest airport in Juliaca. The project area covers a regional mineral trend that includes intrusion related low sulphidation style polymetallic and silver veins, high sulphidation style alteration areas and possible porphyry style mineralization (as identified on Landsat Imagery). The main focus to date has been on the low sulphidation silver veins and little work has been completed on the other systems within the property. The Pataquena vein system is hosted by volcanic flows and is closely related to a series of rhyolite domes as well as hydrothermal breccias.

The vein prospect occurs as a phreatic (eruption breccia) and polymetallic silver vein system eroded to expose an elevated portion of the original hydrothermal system. Based on this geological setting and the lateral surface extent of the vein, the system is believed to have excellent depth potential.

Rock samples were sent to Actlabs, SGS or CIMM laboratories in Lima, Peru from different sampling programs. All three labs are certified assay laboratories and conform to National Instrument 43-101 standards for independent assay laboratories. Samples were initially run for 34 element ICP to determine the major-element data. High values of silver (Ag), lead (Pb) and zinc (Zn) were confirmed with geochemical assays. Gold values were determined by Fire Assay with an Atomic Absorption finish at Actlabs, Lima. Robert van Egmond, P.Geo., Manager Exploration Peru is the Qualified Person as defined by NI 43-101 for the project discussed above and has read and approved the contents of this release.

Candente is a diversified copper and gold exploration company focused on increasing shareholder value through discovery. Candente has an advanced exploration stage copper project, Canariaco, and several other gold, copper and silver projects in Peru and Mexico. Candente subscribes to principles which ensure that its exploration and development activities are beneficial to the local communities.

Release 218

This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Candente relies upon litigation protection for forward-looking statements.

Contact Information

  • Candente Resource Corp.
    Joanne Freeze
    (604) 689-1957 or Toll Free: 1-877-689-1964
    or
    Candente Resource Corp.
    Neil Currie
    (604) 689-1957 or Toll Free: 1-877-689-1964
    Email: info@candente.com
    Website: www.candente.com